That isn't unusual with initial IPO targets, which are offered up as a guess-timate for regulatory purposes. In normal market conditions the early numbers are usually lower than the actual ones achieved when a company makes its debut.

But recently many companies have been posting lower numbers when they file or they raise less money than originally expected when they debut on Wall Street.

Two biotech companies last week priced lower than expected, although their stocks rose when they hit the street.

Colorado-based biopharmaceutical company GlobeImmune cut its IPO price by 38 percent and reduced the number of shares it offered, raising $15 million. Its stock rose 11 percent on its first day of trading but its $52 million market cap is a far cry from the $207 million the company was thought to be worth when it first filed back in September 2012.

Massachusetts-based Minerva Neurosciences, which is developing treatments for symptoms of schizophrenia and insomnia, raised $33 million at $6 per share last week— 45 percent less than its original target range of $10 to $12. Its stock traded up 2 percent on its first day.

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